Berkshire Hathaway Q4 Profit Drops

Billionaire Warren Buffett's Berkshire Hathaway Inc. (BRK.A, BRK.B) reported that its fourth quarter net earnings attributable to shareholders dropped to $18.16 billion or $12,412 per Class A share from last year's $39.65 billion or $26,690 per Class A share.

Investment and derivative gains/losses included gains of $11.46 billion in the latest quarter compared to $32.36 billion in the prior year.

Operating earnings for the fourth quarter declined to $6.71 billion from $7.29 billion in the prior year.

Meanwhile, Berkshire said it used about $2.6 billion to repurchase its shares in the fourth quarter bringing the total for the year to about $7.9 billion.

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